Wednesday morning’s dive in Bitcoin was brutal for even the digital asset’s most loyal HODLers. During the 11 o’clock hour (Eastern Time), Bitcoin plunged from $6,063.69 to $5,650.01 over the course of just 30 minutes. It then continued to fall in anticipation of the Bitcoin Cash hard fork scheduled for Thursday. The cryptocurrency hadn’t moved most of the year and crypto pioneers like Crystal Rose Pierce were starting to share excitement for Bitcoin’s stability. On Monday in San Francisco, following the EOS Global Hackathon, she told an audience of developers at their CryptoMondays meetup, “If we wrap up this year and Bitcoin hasn’t changed, or is marginally changing, that means…
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The New York Times newsroom of 1942 looks surprisingly like the current Modern Consensus newsroom (via Pixabay).Must-reads September 12, 2018: Despite the hype, crypto’s plunge is awful
Here are the crypto stories you should be watching today
‘This is something we have to do to push the ecosystem forward’: Tyler Winklevoss explains why Gemini is launching a crypto coin pegged to the US dollar (Business Insider) The Winklevoss brothers say their stable coin, which is also regulated by the New York State Department of Financial Services and with assets held at State Street, will help draw in institutional money and confidence into crypto. That’s cool because… Crypto’s 80% Plunge Is Now Worse Than the Dot-Com Crash (Bloomberg) Here’s a sad stat: The “money of the future” is having an awful present. Crypto market caps are now 80 percent off their peak, a drop worse than Nasdaq’s…
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If cryptocurrencies traded on a physical market, this is what it would look like right now (via Wikipedia)Cryptocurrency markets get a big slap in the face
Tens of billions in value lost—here’s why
The world’s crypto markets took a collective dive, and it all started while you were sleeping. The cross-currency crash began just after 4 a.m. on Wednesday, September 5, and it touched every token you can name. At the time of this writing, Bitcoin is barely above $6,000. Ether is down 23 percent to $220. Bitcoin Cash, XRP, and Litecoin all took substantive hits. Even DogeCoin is down. Where Tuesday’s crypto market capitalization was around $240 billion, it was about $217 billion less than 24 hours later. So what’s the deal? There are two pieces of information to help us understand this drop. First, Goldman Sachs has downplayed its plans to…
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BeHODL the light! Sun shines on crypto market after a stormy week
Cryptocurrency investors survive the agony, at least for now
Bitcoin, Ethereum, and Ripple are regaining value after a brutal week that otherwise had the cryptocurrency world begging for mercy. A major market crash slammed these currencies and the rest of the crypto market. As these big three bounce back today, relieved investors are surely interpreting it as a sign that all is well and all will be well. Within the past 24 hours, Bitcoin climbed from nearly $9,000 to more than $12,000, Ethereum is up 6.8%, and Ripple came screaming back a 30% gain. So come on in, the water’s fine. The crash has been attributed to all kinds of perceived causes, but the markets got kneecapped by three…
